What occurs when a Whole Life policy "endows" at age 100?

When a Whole Life policy "endows" at age 100, it means that the policy has reached its maturity date. At this point, the accumulated cash value of the policy equates to the death benefit amount, and the policyholder has the option to surrender the policy for its cash value. This is a significant feature of Whole Life policies, as they are designed to provide coverage for the insured's entire life, but also accumulate a cash value over time.

When the policy endows, the policyholder can choose to receive the cash amount, which represents the savings component of the policy. This endowment feature ensures that the policyholder does not lose the benefits they have been contributing toward throughout the life of the policy. Instead, they are provided with a lump sum that they can use at their discretion.